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Hedgie: More sharks on land than in water in these parts

In this column I submit 10 big ideas for the next decade, which is bound to be a dangerous one, including: the coming of self-aware artificial intelligence; fusion between AI and humanity to create homo-digitus; the prospect of people living to 150 years or more; the powerful influence of demographics, and rapidly increasing and decreasing …

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How we predicted S&P’s shock upgrade of major bank hybrids to investment-grade

Today I explain why most global high yield bonds are really just equity risk, with similar volatility and maximum 40% losses, while also lifting the lid on one of our most complex and bold predictions: the shock Standard & Poor’s upgrade yesterday of the major banks’ hybrids from their previous BB+ “high yield” rating to …

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